In the wake of yesterday's return of fear to the market, today we turn our attention to the weekend forecast. Wouldn't it be a refreshing change if, after so many long positions were liquidated in INDEX:BTCUSD, the weekend could bring a shift where the shorts are next in line?
Based on the liquidation heatmap, there's a significant cluster of short positions poised for liquidation around the $71,600-$72000 mark. With the previous day's market tremors shaking out a considerable number of longs, the potential reversal over the weekend could offer a compelling narrative for traders looking for entry points or defensive maneuvers.
This scenario presents a unique opportunity for traders to capitalize on the possible short squeeze. For those of you who are vigilant and ready to act, this could be a moment to watch closely. As always, manage your risks wisely and stay tuned for further updates.
Wishing you all a profitable weekend,
ChartScope
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high-risk play which didn't play out. the overall trend is active. Down to $50-60k. W Pattern and then up